Lucky Electric contracts GE boiler, turbine

KARACHI: GE Power announced that it will provide advanced boiler and steam turbine technology to power Pakistan’s first ultra-supercritical power plant in Deh Ghangiaro, Bin Qasim, Karachi.

The project will add up to 660 megawatts (MW) of electricity to the national grid. The power plant will be constructed by SEPCOIII and is planned to commence commercial operations in 2021.

The Lucky Electric power project stands out as the first power plant located outside Thar district that will use lignite mined from the Sind Engro Coal Mining Company (SECMC) Mine at Thar Block II, in addition to imported lignite as back-up fuel.

TDAP, Jica to hold Sportec in Tokyo

KARACHI: Trade Development Authority of Pakistan (TDAP) and Japan International Cooperation Agency (Jica) are jointly organizing a sports goods exhibition ‘Sportec’ in Tokyo, Japan from July 25 to 27.

The exhibition will feature 30 sports sector companies from Pakistan which will exhibit a variety of items ranging from soccer balls to martial art gears and sportswear.

In this regard, the Trade Development Authority in collaboration with Pakistan Sports Goods Manufacturers and Exporters Association will organise an appraisement session in Sialkot. The session will be chaired by Jica adviser to TDAP Masao Otsuka. Otsuka will brief prospective exhibitors about the sports industry and business culture of Japan.—Staff Reporer

Credit Suisse to pay $77m in hiring case

WASHINGTON: Credit Suisse agreed to pay $77 million to US authorities after admitting it hired the under-qualified relatives of influential Chinese officials in order to win business, the government announced on Thursday.

The case emerges from the so-called princelings investigations, in which US authorities accused major financial firms of giving valuable jobs to relatives of Chinese government officials in return for lucrative government business.

JP Morgan Chase in November 2016 agreed to pay $264 million to resolve similar allegations.

Published in Dawn, July 6th, 2018